Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Image By: Spartech Corp. Victoria Holt

Related to this story

Topics Injection Molding
Companies & Associations Spartech Corporation

Former Spartech Corp. leader Victoria Holt has been named president and CEO of quick-turn manufacturer Proto Labs Inc.

In a Feb. 6 news release, Proto Labs founder and chairman Larry Lukis said that Holt's "track record of leading companies with large and diverse operations…makes her an excellent choice" to lead the firm.

Maple Plain, Minn.-based Proto Labs uses injection molding and CNC machining to make custom parts for prototyping and short-run production. The publicly-held firm posted sales of $126 million in 2012.

Holt led Spartech — a leading plastic sheet maker and compounder — from 2010 until the firm was sold to PolyOne Corp. for $393 million in early 2013. She received a golden parachute payment of more than $5 million in cash, equity, pension and benefits after leaving Spartech.

Prior to joining Spartech, Holt had been senior vice president at paint, glass and coatings maker PPG Industries Inc. At Proto Labs, she will be replacing Brad Cleveland, an original employee from the firm's 2001 launch.

Cleveland has said he wants to start his own company, possibly in the alternative energy field. Cleveland's "fantastic organizational and team-building skills have made the company what it is today," Lukis said in the release.

He added that Holt "has the complementary experience to build on our accomplishments and leverage Proto Labs' strong platform in the years ahead."

In August, Proto Labs officials announced that the firm was buying a 175,000-square-foot building in Plymouth, Minn., about 10 miles from its headquarters. Proto Labs will spend about $15 million to turn the building into a production site by mid-2014.

Proto Labs already has four buildings totaling 300,000 square feet in the Twin Cities area. The firm employs 490 in Minnesota, including a site in Rosemont. Proto Labs also has facilities in Telford, England; and Yamato-Shi, Japan.

On Wall Street, Proto Labs' per-share stock price has enjoyed substantial growth. The price was near $40 in early 2013 but closed near $78 on Feb. 6. The firm has been public since February 2012.


Comments

Former Spartech chief Holt lands at Proto Labs

By Frank Esposito
Senior Staff Reporter

Published: February 7, 2014 12:24 pm ET
Updated: February 7, 2014 12:25 pm ET

Post Your Comments


Back to story


More stories

Image

Cascade Engineering founder Keller to step down as CEO

September 16, 2014 8:33 pm ET

Cascade Engineering Inc. is undergoing a transition as President Mark Miller will also add the role of CEO, replacing founder Fred Keller, who has...    More

Image

Canadian, Mexican injection molders form auto supply joint venture

September 16, 2014 2:26 pm ET

A new automotive parts manufacturer will open in Querétaro, Mexico, through a joint venture between Canadian automotive supplier Papp Plastics and...    More

Image

DS Smith adds to footprint with Croatian injection molding acquisition

September 10, 2014 2:05 pm ET

DS Smith plc, the London-headquartered packaging giant, has announced the acquisition of Kaplast dd, a Croatian injection molding company.    More

Image

California mold maker adds new press

September 9, 2014 1:54 pm ET

M.R. Mold & Engineering Corp. of Brea, Calif., has upgraded its injection molding capability to enhance testing and sampling of customer molds prior...    More

Image

Chicago molder certified as woman-owned company

September 9, 2014 1:41 pm ET

The Women's Business Enterprise National Council (WBENC) has certified Magenta LLC as a woman-owned business.    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events